Trading a Uniform for a Suit#6

Trading a Uniform for a Suit#6 - security officials serving...

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Darrin Wright November 14, 2011 Business Week Summary #6 Trading a Uniform for a Suit The main topic of this article is the recurring fact that most top government defensive jobs usually hire retired members of the Army, Air Force, Marine Corps, Navy, etc. This is due to the fact that defense industry finds retired flag officers useful as rainmakers who contract friends that are still in military to try to steer contracts a company’s way. Generals and admirals find the defense industry to be a more natural fit for their talents. They are proven to be managers, having led thousands or even multibillion-dollar budgets. For a high-ranking officer, industry’s financial lure can be powerful. Top executives at the largest U.S. defense contractors are paid form $1 million to $11 million a year. The annual base salary for the chairman of the Joint Chiefs of Staff is $243,162. The top 10 U.S. defense contractors have 30 retired senior officers or former national
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Unformatted text preview: security officials serving their boards. Since 2008 companies announced the hiring of almost two dozen prominent flag officers or senior officials as high-ranking executives. One of the latest members is General James L. Jones, former commandant of the Marine Corps and former national security adviser to President Barack Obama. Jones was elected to the board of General Dynamics on August 3. Defense contractors aren’t the only opportunity for ex-military. There are at least, a dozen rent-a-general consulting groups that are open for business. These groups are able to assist in different task, such as advising the Pentagon in helping clients navigate the weapons procurement maze. Burdeshaw Associates are one of the oldest consulting groups. According to Business Week, Retired officers will be even more in demand by defense contractors angling for a piece of a shrinking contracting pie....
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This note was uploaded on 11/14/2011 for the course ECON 201 taught by Professor Chen during the Fall '11 term at N.C. A&T.

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